Economic Buzz: UK house prices up 2.4% on year

UK house prices grew at a faster pace in July amid steadily improving housing affordability and moderate fall in mortgage rates, Nationwide Building Society said on Friday. House prices rose 2.4 percent on a yearly basis in July, following June's 2.1 percent increase. On a monthly basis, house prices grew 0.6 percent, in contrast to the 0.9 percent decrease in June.

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